General Concepts in Economics– Econ 3 - 33089
Professor:
Office location:
Phone #:
Office hours:
E-mail:
Dr. Geetha Rajaram
LAC, T2354
(562) 938-4407
Monday (12.45 p.m. – 1.30 p.m.); Tuesday (9.10.am. – 10.10.am);
Tuesday (12.00p.m. – 1.30 p.m.); Wednesday (12.45 pm– 1.30pm)
Thursday (9.10 a.m. – 10.10 a.m.). All office hours are conducted
in my office at LAC T2354
grajaram@lbcc.edu E-mail is usually the best way to reach me.
COURSE DESCRIPTION
This course is designed to teach students concepts in both introductory macroeconomics and
introductory microeconomics. The course begins with an introduction of the markets, demand
and supply. The first half consists of the study of microeconomics. This course is designed to
teach students how human behavior influences outcomes in narrowly defined individual
markets. This course will introduce concepts relating to buyers and sellers focusing on
firms. By the end of the semester students will understand how firms generate revenues,
costs, and employ resources. The microeconomics section of the course will consist of
consumer theory, utility analysis and budget constraints firm’s costs and production, four
market structure, perfect competition, monopolistic, and monopolistic competitive firms.
The second half of the course introduces students to topics of macroeconomics. Macroeconomics
is the study of how human behavior influences outcomes in large scale and aggregate markets.
This course will introduce concepts relating to entire economies focusing on the United States
economy. By the end of the semester students will understand how institutions, such as
governments and central banks policies impact the aggregate economy. More specifically, topics
in macroeconomics will include the study of gross domestic product, unemployment and
inflation, Aggregate expenditure, Fiscal Policy, Monetary Policy, and the Federal Reserve Bank.
COURSE OUTCOME
1. Analyze and discuss problems such as; the level of unemployment, the rate of inflation, the
nation's total output of goods and services, fiscal and monetary policies.
2. Analyze and discuss problems such as: competition, monopoly, oligopoly, and resource
employment, labor, land and capital.
3. Examine topics such as: price theory, revenues, costs, distribution, and resource allocation.
COURSE OBJECTIVE
-Define the economic problem of scarcity and explain how it relates to the concepts of choice and
maximization.
-Read, interpret, and analyze economic graphs.
-Use the market model for price and quantity determination.
-Apply marginal analysis to the decision making process of individuals and firms in different
market structures.
-Define, describe, and evaluate the effects of fiscal policy on the economy using macroeconomic
models.
-Define, describe, and evaluate the effects of monetary policy on the economy using
macroeconomic models.
-Examine the role of international trade and net exports based on the principle of comparative
advantage.
-Identify the determinants of economic growth.
-Develop an awareness of economic issues as they relates to every day life.
COURSE POLICIES:
Regarding behavior
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All behavior must adhere to the Standards of Student Conduct and Campus Rules as
outlined in the Academic Polices section your college catalog. These standards and rules
are in compliance with section22635 of the State Educational Code. Students should
become familiar with their rights and the rights of teachers.
Regarding withdrawals/incomplete grades
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It is the responsibility of the student to properly withdraw from the class prior to the last
possible withdrawal date. Please check with the Admissions Office for all important dates
regarding status in the class.
Incomplete grades, F/I will only be offered under unusual and serious circumstances. F/Is
will require formal documentation such as a, funeral notice, police report, or
hospitalization document.
Failure to attend the first day of class could lead to the student being dropped from the
course. Please attend class regularly. Students can also be dropped from the course for
not attending and completing assignments.
Regarding content
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No late homework is accepted
No make-up exams will be given
Students are expected to do their own work. Cheating, or the perception of cheating, on
examinations or other assignments will result in an "F" (fail) for the course. Excessive
absences may result in a "W"
Students are given TWO attempts at each assignment if students choose to do so
(EXCEPT for the written assignment due the end of the semester, and short answer
exam). Students will have to start the assignment from the beginning for the second
attempt. All assignments (both attempts) will be due by the due date. No exceptions for
late homework
Students are allowed to turn in any work before the due date, but not after the due date.
All work will be graded within a week after the due date.
GRADE DISTRIBUTION
Grades are based on percentage of total points on all homework, exams, video case assignment,
articles, and writing assignments. If the total percentage falls in between:
89.5%
79.5%
70%
59.5%
Below
-
100%
89.4%
79.4%
69.4%
59.5%
A
B
C
D
F
(Grades in-between the percentages listed above will be rounded up to the nearest tenth. For
example an 89.43% will be rounded to 89.5%. The grade of 89.38% will be rounded to 89.4%)
COURSE TEXBOOK / WEBSITE :
This course is entirely online. ALL ASSIGNMENTS will be completed through McGraw-Hill’s
publisher website which is called CONNECT.
You will have to purchase the book to get access to CONNECT.
ALL ANNOUNCEMENTS on what is due each week is listed on MOODLE for your class. Only
the announcements on what is to be completed for each week is on MOODLE, but the actual
assignments and completing all assignments is through CONNECT. There are instructions on
how to register on CONNECT in this syllabus. All students will have to get it set-up and learn
how to navigate CONNECT before the end of the first week of class. If possible do that much
earlier.
ANY STUDENT NOT REGISTERED ON CONNECT BY THE END OF THE FIRST WEEK
OF CLASSES WILL BE DROPPED FROM THE COURSE.
Course Textbook
Readings are based on the textbook and power-point for each chapter. Text: authors: Michael
Mandel. Title: Economics: The Basics. The ISBN number is 9781308041711. It contains
the text with Connect access. The power-points presentation for each chapter in available on
CONNECT. To access the power-points you can click on the library link on CONNECT and
see under resources under chapters for the textbook, there is power-point presentations for
each chapter. There are other resources for the chapters you can look at if you choose.
Course website
CONNECT AND MOODLE
For this course you will have to use the publishers website called CONNECT to complete all
assignments and exams. It is the website used for McGraw-Hill textbooks. All assignments for
this textbook are on that site. All assignments will be completed on CONNECT. Your
assignments will be graded and points recorded on CONNECT. So you will be able to see your
grades as assignments are completed on CONNECT
Second, the announcements on what is exactly due each week and due dates are listed on
MOODLE for your course Econ 3: General Concepts in Economics. There are no assignments
attached in MOODLE. You will need to look at MOODLE to know what you are required to
complete each week. All assignments for the whole semester are already listed on MOODLE.
You can work on any assignments ahead of time. NO LATE assignments will be allowed. You
are allowed two attempts for each assignment if you choose (except for the writing assignment at
the end of the semester, and the short answer exam). It will need to be completed before the due
date. The assignments will be graded after the due date. You will be able to first login into
MOODLE for your course the first day of class. If you are having problems logging into
MOODLE, please see someone in ITDC (Instructional Technology Development Center).
A copy of this syllabus will be attached on CONNECT and on MOODLE.
How to register into CONNECT
There are three ways to register to CONNECT. READ all three ways before doing it. Number 1,
and 2 gives you the textbook online, and number 3 will give you a physical copy of the textbook.
1.
You can go directly into the url provided by the publisher for my course and textbook,
click register now on the right hand side of the page, and follow the instructions. Once
you are in CONNECT, you will see all the assignments for the course. You can buy the
textbook online, and if choose to do it this way, you will have your textbook online, and
not a physical copy. The url address is
http://connect.mcgraw-hill.com/class/g_rajaram_spring_2014_1
2. The second way is to wait for the first day of class and go into MOODLE. I have a link
to McGraw-Hill on MOODLE. Log into MOODLE and go all the way down on the
page. On the left hand side in the bottom, there is an icon for McGraw-Hill Campus.
Click on that and it should take you to the site and you can register and follow the
instructions. You can always get to your CONNECT account this way through MOODLE
instead of having to type in the url each time. If you do buy the textbook online, you will
have a copy online instead of a physical copy.
3. The third way will give you a physical copy of the textbook. Go to the bookstore and get
a physical copy of the textbook. The book will come wrapped with an access code in it.
There will be instructions on it to register. You may need the student registration
information below to register. The url is the same as listed in number 1 above.
Student Registration Information
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course
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General Concepts in Economics
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instructor
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Geetha Rajaram
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section
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Spring 2014
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http://connect.mcgraw-hill.com/class/g_rajaram_spring_2014_1
section web address :
ONCE REGISTERED IN CONNECT, YOU CAN ACCESS CONNECT EACH TIME
THROUGH THE LINK FROM MOODLE (MCGRAW-HILL CAMPUS LINK IN THE
BOTTOM OF THE LEFT HAD SIDE ON THE MOODLE PAGE FOR YOUR CLASS),
OR GO TO THE URL DIRECTLY WHICH IS
http://connect.mcgraw-hill.com/class/g_rajaram_spring_2014_1
COURSE ASSIGNMENTS
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Read the chapters to each chapter. Read Power-Point presentation for each chapter. Click
on Library on the CONNECT system (top tabs), and click on instructor resources. Click
on chapter you need and there is chapters, and power points. You can also click on the
textbook in the front page and will go to chapters as well. If you have a physical
textbook, you can use that. Use CONNECT to get power-point presentation for each
chapter.
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There are five types of course assignments
1. Homework
2. Video Cases
3. Articles
4. Exams – Multiple choice
5. Exams – Short Answer
6. Writing Assignment
Homework
The homework could be a combination of multiple choice and short answer. All homework is
required to be turned in by the due date. There is homework for each chapter. There are twelve
chapters, thus twelve homework assignments. Homework 1 relates to chapter one, homework 2
relates to chapter two and so forth. You can choose to attempt the homework twice. You do not
have to attempt it twice. You may be satisfied with the grade after the first attempt, and choose
not to attempt it the second time. You may not be satisfied, and attempt it a second time. If you
choose to attempt it a second time, you will begin the second attempt from the beginning of the
homework. Any and all attempts will be due by the due dates. After your first attempt, you will
be graded quickly. You will know your grade, so that you can make the choice if you want to
attempt the assignment a second time. If you do attempt the assignment twice, the grade of the
second attempt is the grade that will be counted towards the course.
All due dates are presented in MOODLE. All homework assignments are presented and to be
completed on CONNECT
Video Cases
There are six video cases. You will watch a short video related to the related topic and answer all
the questions asked for that assignment. You can choose to attempt the video case assignment
twice. You do not have to attempt it twice. You may be satisfied with the grade after the first
attempt, and choose not to attempt it the second time. You may not be satisfied, and attempt it a
second time. If you choose to attempt it a second time, you will begin the second attempt from the
beginning of the assignment. Any and all attempts will be due by the due dates. After your first
attempt, you will be graded quickly. You will know your grade so that you can make the choice
if you want to attempt it the second time. If you do attempt it twice, the grade of the second
attempt is the grade that will be counted towards the course.
Video Case 1 – Behavioral Economics
Video Case 2 - Production
Video Case 3 – Profit Maximization
Video Case 4 – Fiscal Stimulus
Video Case 5 – Fiscal Policy
Video Case 6 - Banking
All due dates are presented in MOODLE. All assignments are presented and to be completed on
CONNECT
Articles
There are two article assignments. You will read the article and answer all questions. You can
choose to attempt the article assignment twice. You do not have to attempt it twice. You may be
satisfied with the grade after the first attempt, and choose not to attempt it the second time. You
may not be satisfied, and attempt it a second time. If you choose to attempt it a second time, you
will begin the second attempt from the beginning of the assignment. Any and all attempts will be
due by the due dates. After your first attempt, you will be graded quickly. You will know your
grade so that you can make the choice if you want to attempt it the second time. If you do
attempt it twice, the grade of the second attempt is the grade that will be counted towards the
course.
All due dates are presented in MOODLE. All assignments are presented and to be completed on
CONNECT
Exam
There are four exams. The multiple choice portion of the exam and the short answer portion are
divided into separate files. Exam1A and Exam 1B are both part of Exam 1. The A’s are the
multiple choice portion and the B’s are the short answer portion of the exams. The chapters for
each exam are also listed under the course outline below
Exam 1 (Exam 1A and Exam 1B) - Chapters 1, 2, 3
Exam 2 (Exam 2A and Exam 2B) - Chapters 4, 5, 6
Exam 3 (Exam 3A and Exam 3B) - Chapters 7, 8, 9, 10
Exam 4 (Exam 4A and Exam 4B) - Chapters 11, 12
You can choose to attempt the MULTIPLE CHOICE portion of the exam twice (Exam 1A, 2A,
3A, and 4A). You do not have to attempt it twice. You may be satisfied with the grade after the
first attempt, and choose not to attempt it the second time. You may not be satisfied, and attempt
it a second time. If you choose to attempt it a second time, you will begin the second attempt
from the beginning of the exam. Any and all attempts will be due by the due dates. After your
first attempt, you will be graded quickly. You will know your grade so that you can make the
choice if you want to attempt it the second time. If you do attempt it twice, the grade of the
second attempt is the grade that will be counted towards the course.
You CANNOT attempt the short answer portion of the exam twice (Exam 1B, 2B, 3B, 4B). You
can only attempt those exams once. All work is due by the due dates.
All due dates are presented in MOODLE. All assignments are presented and to be completed on
CONNECT
Writing Assignment
You will do a short writing assignment and answer the two questions presented.
One question is from the topic of Microeconomics, and the second from the topic of
Macroeconomics. For each question you will type a one to two answer double spaced. You may
use sources from the textbook, or any other sources to add to your paper. If you choose to cite a
source, you need to just footnote the source. You do not need a bibliography since it is a very
short paper.
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You can only attempt this assignment ONCE. It is due the end of the semester. All due dates are
presented in MOODLE. All assignments are presented and to be completed on CONNECT
COURSE OUTLINE:
Weekly Calendar (Read chapters and power point presentation for each chapter)
Week
Chapter Assignment
1
2
3
4
Chapter 1 - Introduction
Chapter 2 – Demand and Supply
Chapter 3 - Market Equilibrium and Shits
Review Chapter 1, 2, 3; Video Case 1 – Behavioral Economics
Exam 1 (Exam 1A and Exam 1B) - Chapters 1, 2, 3
Microeconomics
5
6
7
8
Chapter 4 – How Businesses Work & Video Case 2 - Production
Chapter 5 – Competition and Market Power & Article 1 – How Business Works
Chapter 6- Government and Economy
Review chapter 4, 5, 6,; Video Case 3 – Profit Maximization
Exam 2 (Exam 2A and Exam 2B) - Chapters 4,5,6
Macroeconomics
9
10
11
12
13
Chapter 7- The first step into Macroeconomics
Chapter 8 - Inflation
Chapter 9 – Growth & Video Case 4 – Fiscal Stimulus
Chapter 10 – Business Cycle, Unemployment, and Inflation
Review Chapter 7, 8, 9, 10, & Article 2 – Unemployment
Exam 3 (Exam 3A and Exam 3B)- Chapters 7,8 , 9, 10
14
15
16
Chapter 11- Fiscal Policy & Video Case 5 – Fiscal Policy
Chapter 12 - Monetary Policy & Video Case 6 - Banking
Review Chapter 11, 12; Writing Assignment - Market Structures (microeconomics), and
Fiscal Policy versus Monetary policy (macroeconomics)
Exam 4 (Exam 4A and Exam 4B) - Chapters 11. 12
WELCOME TO MY CLASS.